Experian and FICO08

[Zosimus]

I've had an Experian app account for a while, but recently they added Fico08 scoring to the mix. I got my score, which is in the low 700s. Unfortunately, the app doesn't let you take screen shots, but I did manage to snap a picture of the screen.

 i.postimg.cc/RZLyYgsy/IMG-20181111-175402.jpg

Since when has 5% utilization become "heavy use of available revolving credit?"

[Anonymous]

I guess it depends if you're talking percentage or dollars.  Most of us believe that FICO under the majority of circumstances looks at percentage (not dollars) so I agree that 5% would not constitute "heavy use" of your available revolving credit.  5% falls withing the ideal 1%-8.9% range, so in terms of scoring and aggregate utilization you're in the best place.

How you arrive at 5% though can vary.  It could come from 1 revolver with a balance, or it could come from 100% of your revolvers all at 5% utilization.  If that were to be the case, it's common to see a score drop associated with number (and percentage perhaps) of accounts with a balance, so "heavy use" could be pointing to number of accounts rather than just utilization percentage.

[Queen_Etherea]

I've always been able to screenshot my EX app. Do you have an iPhone or Android? I know on the iPhone all you have to do is hold the power and home button. I screenshot the app and send it to my boyfriend... fiance all the time.

[Anonymous]

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@Anonymous wrote:

I guess it depends if you're talking percentage or dollars.  Most of us believe that FICO under the majority of circumstances looks at percentage (not dollars) so I agree that 5% would not constitute "heavy use" of your available revolving credit.  5% falls withing the ideal 1%-8.9% range, so in terms of scoring and aggregate utilization you're in the best place.

How you arrive at 5% though can vary.  It could come from 1 revolver with a balance, or it could come from 100% of your revolvers all at 5% utilization.  If that were to be the case, it's common to see a score drop associated with number (and percentage perhaps) of accounts with a balance, so "heavy use" could be pointing to number of accounts rather than just utilization percentage.

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Nice response by BBS.  Consider also that a person could easily have a total utilization at 5% but with a particular card at 60% (or 80% or higher still).

The "heavy use" reason code simply means that there is at least a 1-point penalty associated with the size of your CC balances.  That could be total utilization, individual utilization, or the actual dollar amount.  One of the reasons I am open to the possibility that raw dollar amounts might be considered (in some models) is that I have seen this reason code when my total util was 1% and individual utilization was < 8.99% (but the raw dollar value was several thousand).

[Anonymous]

I tend to share CGIDs opinion that raw dollar value may matter under circumstances, even when percentages fall in the ideal range.

[Zosimus]

Ahh well it didn't matter. Citibank gave me a new $5600 0% APR credit card after pulling Equifax.